Category Archives: economics

More on Gender Inequality

Tweet The New York Times published an article, As Women Take Over a Male-Dominated Field, the Pay Drops. The title conveys its message. That women are paid less than men for the same work is true. But is it as the article strains to imply that it is due to a gender bias? Buried deep…


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More Good Medicine From the Government

Tweet A couple of items. For about 25 years I’ve been saying and writing that routine PSA screening was a bad idea. For much of this time I was the sacrificial nay sayer at meetings devoted to the subject. You can read the several posts on this issue that I have written over the past 8 years….


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Quotation of the Week – Predictions

Tweet The only function of economic forecasting is to make astrology look respectable. John Kenneth Galbraith (1908-2006) Also true of forecasting in general.


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Substandard Medical Care, Etc

Tweet An article in The Guardian says that two-thirds of hospitals in the UK give substandard medical care. Furthermore 75% of hospitals have levels of safety that “are not good enough.” These hospitals are said to be understaffed and underfunded. These problems are expected to worsen as the government phases in cuts to the National Health…


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The Doctors’ Loophole – Another Reason why this is Such a Wonderful Country

Tweet Forty million Americans have a combined $1.2 trillion in student debt. Since the last recession this is only type of consumer debt that hasn’t decreased. As these loans are mostly guaranteed by the government they keep accumulating. Whether going into debt to get a college education is a good idea is not my subject….


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Why is Medical Care So Expensive?

Tweet The PowerPoint presentation below contains the slides I used today to accompany a presentation on the above subject to the Lubbock Roundtable. It is just an outline to my remarks. The quotation below belongs to slide #36. Its from The Obamacare Crisis by Thomas B Edsall in the  New York Times November 19, 2013….


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The Dismal Science Triumphs Again

Tweet The Nobel Prize in Economics was awarded to three Americans for showing that while it is difficult to predict asset prices in the short term, prices can be predicted in broad terms over longer periods, such as three to five years, according to the Nobel committee. Wow! Short term who knows? But in long term…


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Commentary on Deuteronomy 15:4-11

Tweet The text of this section is below in italics. There shall be no needy among you, since the Lord your God will bless you in the land which the Lord your God is giving you as a hereditary portion. If only you heed the Lord your God and take care to keep all this…


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The Electronic Record and the Doctor

Tweet Everyone seemed surprised when investigators from the RAND Corp  reported in the January 2013 issue of Health Affairs that the widespread use of the electronic medical record had not resulted in reducing medical care costs  – see the NY Times incredulous reaction. The RAND team of course said if we just tried a little bit harder,…


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Student Loans

Tweet The only segment of our economy that had experienced the same inflation as medical care is higher education. While there may be many causes for this expansion of cost the biggest is doubtless the easy availability of student loans. The federal government has recently assumed full responsibility for the vast majority of these instruments. Until now…


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